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but also came from bill clinton's chief of staff. this is an idea that's been around a long time which is saying hey, let's see if we can't get competition into the medicare world so that people can get the choice of different plans at lower cost, better quality. i believe in competition. >> jim, if i can just respond very quickly. first of all, every study has shown that medicare has lower administrative costs than private insurance does. which is why seniors are generally pretty happy with it. and private insurers have to make a profit. nothing wrong with that. that's what they do. so you've got higher administrative costs plus profit on top of that. and if you were going to save any money through what governor romney is proposing, what has to happen is the money has to come from somewhere. and when you move to a voucher system, you are putting seniors at the mercy of those insurance companies and over time if traditional medicare has decayed or fallen apart, then they're stuck. and this is the reason why aarp has said that your pl
but also came from bill clinton's chief of staff. this is an idea that's been around a long time which is saying hey, let's see if we can't get competition into the medicare world so that people can get the choice of different plans at lower cost, better quality. i believe in competition. >> jim, if i can just respond very quickly. first of all, every study has shown that medicare has lower administrative costs than private insurance does. which is why seniors are generally pretty happy...
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bill clinton tried the approach that i'm talking about. we created 23 million new jobs went from deficit to surplus, and businesses did very well. so in some ways we have data on which approach is more likely to create jobs and opportunity for americans, and i believe the economy works best when middle class families are getting tax breaks so they have money in their pockets, and those of us who have done extraordinarily well because of this magnificent country that we live in, that we can do more -- >> romney: jim the president started this segment. so i get the last word. >> you get the first word of the next segment. >> romney: i'm not in favor of a $5 trillion tax cut. that's not my plan. that's .1. so you may keep referring to it as a $5 trillion tax cut. but that's not my plan. number 2 let's look at history. my plan is not like anything that has been tried before. my plan is to bring down rates and also bring down deductions exemptions and credits at the same time, so the revenue stays in. my priority is putting people back to work
bill clinton tried the approach that i'm talking about. we created 23 million new jobs went from deficit to surplus, and businesses did very well. so in some ways we have data on which approach is more likely to create jobs and opportunity for americans, and i believe the economy works best when middle class families are getting tax breaks so they have money in their pockets, and those of us who have done extraordinarily well because of this magnificent country that we live in, that we can do...
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bill clinton coined the approach i'm talking about. created 23 million new jobs, went from deficit to surplus, and businesses did very well. so in some ways we've got some data on which approach is more likely to create jobs and opportunity for americans, and i believe that the economy works best when middle class families are getting tax breaks so they've got money in their pockets, and those of us who have done extraordinarily well because of this magnificent country that question live in, that we can afford to do a little more to make sure we're not blowing up the deficit. >> the president began this segment, so i think i get the last word. so i'm going to take it. >> you'll get the first word in the next segment. >> he gets the first word in this segment, i get the last word i hope. >> that's okay. >> i'm not in favor of a $5 trillion tax cut. that's not my plan. i'm not putting in place any tax cut that will add to the deficit. that's point one. you can keep referring to a $5 trillion tax cut, but that's not my plan. >> okay. >> l
bill clinton coined the approach i'm talking about. created 23 million new jobs, went from deficit to surplus, and businesses did very well. so in some ways we've got some data on which approach is more likely to create jobs and opportunity for americans, and i believe that the economy works best when middle class families are getting tax breaks so they've got money in their pockets, and those of us who have done extraordinarily well because of this magnificent country that question live in,...